NEWPORT NEWS, Va. (WAVY) – A new project funded by state money will bring several new businesses to Newport News.

The certification of City Center at Oyster Point Entertainment District Tourism Project was announced by Gov. Terry McAuliffe Tuesday. The project is funded by the Commonwealth’s Tourism Development Financing Program, which provides gap financing for larger-scale tourism development projects.

The project will create 525 new jobs and will include the following businesses:

Toby Keith’s I Love This Bar & Grill

Tucanos Brazilian Grill

Paragon Theater

Travinia Italian Kitchen and Wine Bar

Toby Keith’s I Love This Bar & Grill and Tucanos Brazilian Grill are both currently open. The other businesses will be open by August.

“The multi-billion dollar tourism industry in Virginia is an imperative component of a robust and diversified economy, and provides thousands of valuable, important jobs across the state,” McAuliffe said. “The Tourism Development Financing Program helps increase tourism and new business in Virginia. The project announced today in Newport News will allow for more visitation in the city, and will bring greater economic growth and opportunity to the region.”

“We are delighted that the City Center at Oyster Point Entertainment District project has been certified under the Commonwealth Tourism Development Financing Program,” Newport News Mayor McKinley Price added. “This vibrant location, a proven success story with its office, residential and hospitality aspects, will be enhanced by the new restaurant and entertainment options.Tourism is an important part of our local, regional and state economy. The Entertainment District project will increase the number of visitors who come to our city, and will provide new and exciting options for our citizens and businesses. Always a leader in innovation and creation, Newport News continues to be a place where great things are happening.”